Kinder Morgan sharply cuts expansion budget to weather virus downturn

摘要

Kinder Morgan cut its budget for growth projects and joint ventures by29% Wednesday as it reported a loss for its latest financial quarterversus a year-ago profit as the coronavirus pandemic takes asignificant bite out of energy markets.The Houston-based pipeline operator, which moves more than athird of the natural gas consumed in the US, won’t pursue someexpansion plans as it looks to preserve cash to weather the downturn.